R Squared Ltd Invests $761,000 in Axis Capital Holdings Limited $AXS

R Squared Ltd purchased a new stake in shares of Axis Capital Holdings Limited (NYSE:AXS) in the 3rd quarter, Holdings Channel reports. The fund purchased 7,947 shares of the insurance provider’s stock, valued at approximately $761,000.

Other large investors have also recently modified their holdings of the company. Synergy Asset Management LLC lifted its holdings in shares of Axis Capital by 63.2% in the 3rd quarter. Synergy Asset Management LLC now owns 352,050 shares of the insurance provider’s stock worth $33,726,000 after buying an additional 136,313 shares during the period. Johnson Investment Counsel Inc. increased its stake in shares of Axis Capital by 0.5% during the third quarter. Johnson Investment Counsel Inc. now owns 1,222,932 shares of the insurance provider’s stock valued at $117,157,000 after buying an additional 6,571 shares during the period. Alberta Investment Management Corp bought a new stake in shares of Axis Capital in the second quarter valued at about $55,025,000. Allianz Asset Management GmbH lifted its stake in Axis Capital by 30.3% in the third quarter. Allianz Asset Management GmbH now owns 970,411 shares of the insurance provider’s stock worth $92,965,000 after acquiring an additional 225,569 shares during the period. Finally, Capital Fund Management S.A. bought a new position in Axis Capital during the 2nd quarter worth about $3,851,000. Hedge funds and other institutional investors own 93.44% of the company’s stock.

Axis Capital Stock Performance

Shares of AXS stock opened at $104.67 on Friday. Axis Capital Holdings Limited has a 12-month low of $84.81 and a 12-month high of $110.34. The business’s fifty day simple moving average is $104.13 and its 200-day simple moving average is $99.90. The company has a current ratio of 0.67, a quick ratio of 0.67 and a debt-to-equity ratio of 0.27. The company has a market cap of $8.06 billion, a PE ratio of 8.45, a PEG ratio of 3.05 and a beta of 0.63.

Axis Capital (NYSE:AXS) last posted its quarterly earnings data on Wednesday, January 28th. The insurance provider reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.28. Axis Capital had a return on equity of 18.90% and a net margin of 15.37%.The firm had revenue of $1.73 billion during the quarter, compared to analysts’ expectations of $1.33 billion. During the same quarter last year, the firm earned $3.38 EPS. The business’s quarterly revenue was up 17.8% on a year-over-year basis. Analysts expect that Axis Capital Holdings Limited will post 11.19 earnings per share for the current fiscal year.

Axis Capital Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st will be paid a dividend of $0.44 per share. The ex-dividend date is Tuesday, March 31st. This represents a $1.76 dividend on an annualized basis and a dividend yield of 1.7%. Axis Capital’s payout ratio is presently 14.21%.

Wall Street Analyst Weigh In

AXS has been the subject of several recent research reports. Mizuho set a $141.00 price target on shares of Axis Capital in a report on Monday, February 2nd. Bank of America reduced their price objective on shares of Axis Capital from $119.00 to $115.00 and set a “neutral” rating for the company in a research note on Thursday, January 29th. Wells Fargo & Company lowered their target price on Axis Capital from $124.00 to $121.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Roth Mkm reiterated a “buy” rating and issued a $120.00 price target on shares of Axis Capital in a report on Thursday, January 29th. Finally, Compass Point set a $121.00 price objective on Axis Capital in a research note on Monday, November 24th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Axis Capital has a consensus rating of “Moderate Buy” and an average price target of $124.00.

Axis Capital Profile

AXIS Capital Holdings Limited, through its subsidiaries, provides various specialty insurance and reinsurance products in Bermuda, the United States, and internationally. It operates through two segments, Insurance and Reinsurance. The Insurance segment offers professional insurance products that cover directors' and officers' liability, errors and omissions, employment practices, fiduciary, crime, professional indemnity, medical malpractice, and other financial insurance related coverages for commercial enterprises, financial institutions, not-for-profit organizations, and other professional service providers; and property insurance products for commercial buildings, residential premises, construction projects, property in transit, onshore renewable energy installations, and physical damage and business interruption following an act of terrorism.